EGM on Oct 22, 2026 to seek approval for 1:10 stock split of equity shares

EGM called for Thursday, October 22, 2026 at 12:30 PM via video conferencing.

Tue 29 Sep 2026

EGM Date and Time

Thursday, October 22, 2026 at 12:30 PM via video conferencing

Stock Split Ratio

1:10 (each ₹10 face value share becomes 10 shares of ₹1 each)

Paid-up Capital

₹97,77,29,410/- (unchanged); shares increase from 9,77,72,941 to 97,77,29,410

Cut-off Date

Friday, October 16, 2026

E-voting Period

Monday, October 19, 2026 at 9:00 AM to Wednesday, October 21, 2026 at 5:00 PM

What is being proposed

The Board, at its meeting on September 28, 2026, approved and now places before shareholders a proposal to sub-divide (split) the company's equity shares. Each existing fully paid-up share of face value ₹10/- would become 10 fully paid-up shares of face value ₹1/- each, ranking pari passu with existing shares. The split ratio is 1:10.

The resolution is an Ordinary Resolution and also covers the consequential change to Clause V(A) of the Memorandum of Association.

Capital structure before and after

• Face value per share: ₹10/- becomes ₹1/-
• Authorised share capital: unchanged at ₹1,25,00,00,000/-
• Authorised shares: 12,50,00,000 becomes 125,00,00,000
• Paid-up share capital: unchanged at ₹97,77,29,410/-
• Paid-up shares: 9,77,72,941 becomes 97,77,29,410

The total rupee amount of capital does not change; only the number of shares and the face value per share change.

Stated reason

The company states the sub-division is being undertaken to enhance liquidity of its shares on the stock exchange, encourage broader participation by retail investors, and make the shares more affordable.

Meeting and voting details

• EGM date: Thursday, October 22, 2026 at 12:30 PM (IST), held through Video Conferencing / Other Audio Visual Means; no proxies, as physical attendance is dispensed with.
• Cut-off date for eligibility to vote: Friday, October 16, 2026.
• Remote e-voting: Monday, October 19, 2026 at 9:00 AM to Wednesday, October 21, 2026 at 5:00 PM.
• E-voting agency: Bigshare Services Private Limited. Scrutinizer: Ms. Nayan Handa of M/s Mehta & Mehta.
• VC participation is open to 1000 members on a first-come-first-served basis, excluding large shareholders holding 2% or more, promoters, institutional investors, directors and KMP, who may attend without that restriction.

Implementation

The split takes effect from a Record Date to be fixed by the Board or an authorised Director/KMP. Shares held in demat form will be adjusted or credited in members' demat accounts through the depositories; physical certificates will be handled through the Registrar and Transfer Agent. Since the ratio is 1:10, no fractional entitlements will arise. The company will file Form SH-7 with the Registrar of Companies and carry out corporate action with BSE and the depositories.

How investors may read it

A stock split does not change a shareholder's proportionate ownership or the company's net worth; it increases the number of shares held while proportionately reducing the value per share. The stated intent is improved affordability and liquidity. The proposal still requires member approval at the EGM and the Record Date is yet to be fixed. No director or KMP is interested in the resolution except to the extent of their shareholding, and the Board has recommended the resolution for approval.

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